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American Finance Trust (Nasdaq: AFIN/AFINO/AFINP) confirmed its commitment to quarterly dividends on its Series A and Series C Preferred Stocks. The Series A Preferred Stock will pay $0.46875 per share, amounting to an annualized rate of $1.875, with payments scheduled for July 15, 2021. Similarly, the Series C Preferred Stock will offer $0.4609375 per share, totaling $1.84375 annually, also payable on July 15, 2021. Both dividends will benefit shareholders recorded at the close of business on July 2, 2021.
American Finance Trust (Nasdaq: AFIN) announced it collected 100% of cash rent due for April and May 2021 as of June 7, 2021. The company has closed on or has in its pipeline 63 properties totaling approximately $238 million. AFIN's forward acquisition pipeline includes 41 properties at a purchase price of $185 million, with a cash cap rate of 7.4%. The leasing pipeline consists of six letters of intent covering 41,962 square feet, netting 31,303 square feet after terminations. Overall, AFIN showcases solid rent collection and a strong acquisition strategy.
American Finance Trust, Inc. (AFIN) announced the issuance of $240 million in long-term notes, aimed at improving its balance sheet. The notes consist of $150 million rated AAA by S&P, with a weighted-average interest rate of 2.88% and an average loan term of 8.9 years. Proceeds will primarily repay existing debt, including a $74 million loan at 5.50% interest, which should enhance AFIN's financial position. This transaction increases the company's overall debt maturity to 5.3 years.
American Finance Trust (AFIN) reported a 6.2% revenue increase for Q1 2021, reaching $79.2 million, while net loss rose to $9.4 million from $9.2 million a year earlier. Cash NOI grew 6.9% to $63.1 million, and FFO was $22.6 million, or $0.21 per share. The company collected nearly 100% of original cash rents, maintaining portfolio occupancy at 94.9%. AFIN's balance sheet improved with an average interest rate of 3.8% and 82.6% of debt fixed-rate. The company acquired properties for $72 million, with a focus on high-quality, necessity-retail assets.
American Finance Trust (AFIN) will release its financial results for Q1 2021 on May 5, 2021, after the market closes. A conference call is scheduled for May 6, 2021, at 11:00 a.m. ET, to discuss these results. Dial-in details are provided for live participation and replay options. AFIN focuses on acquiring and managing a diversified portfolio of commercial real estate properties across the U.S. Investors should note that forward-looking statements in the release involve risks and uncertainties, particularly related to the COVID-19 pandemic.
American Finance Trust (AFIN) reported a strong rent collection performance for Q1 2021, achieving 99% of the original cash rent due as of April 1, 2021. The company noted a significant recovery in its multi-tenant portfolio, with 98% of rent collected, while the single-tenant portfolio performed excellently at nearly 100%. This marks the third consecutive quarter of increasing rent collections across AFIN's portfolio of necessity-retail tenants, returning to pre-pandemic levels and driven by demand for quality retail spaces.
American Finance Trust (Nasdaq: AFIN/AFINO/AFINP) has declared a quarterly dividend of $0.2125 per share, equating to an annualized rate of $0.85. This dividend will be paid on April 15, 2021 to shareholders recorded by the close of business on April 12, 2021. The company aims to continue this dividend distribution on a quarterly basis, reinforcing its commitment to returning value to shareholders amidst ongoing uncertainties in the market.
American Finance Trust announced it will continue paying dividends quarterly on its 7.50% Series A Preferred Stock at an annualized rate of $1.875 per share, resulting in a dividend of $0.46875 payable on April 15, 2021. Additionally, dividends on the 7.375% Series C Preferred Stock will be $0.53033 per share, also payable on April 15, 2021, covering the period from December 18, 2020 to March 31, 2021. Both dividends require holders to be on record by April 5, 2021.
American Finance Trust, Inc. (AFIN) reported its financial results for Q4 and FY 2020, showing a 1% revenue increase to $77.2 million. However, net loss attributable to common stockholders rose to $8.6 million. Cash NOI grew by 2% to $58.7 million, while FFO increased by 14% to $25.5 million per diluted share. The company raised $88.4 million through a public offering and acquired 35 properties for $61.3 million. Portfolio occupancy stands at 93.9%, and cash rent collection was over 96% in Q4. The firm maintained a conservative net leverage of 40.2% with liquidity of $228.9 million.
American Finance Trust, Inc. (Nasdaq: AFIN) announced it will release its financial results for Q4 and the full year 2020 on February 24, 2021, post-market. A conference call to discuss these results will be held on February 25, 2021, at 11:00 a.m. ET. The call will include management commentary and a Q&A session. Interested parties can access the call via the AFIN website. Forward-looking statements in the release highlight risks including those related to COVID-19, affecting AFIN's tenants and economic conditions.
